Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.011%
Price spread now: Lighter RH against Derive+0.038%7-day average +0.020% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.066%+$7 on $10k
+Price spread, last 4 days (all we have)+0.038%+$4 · spread now +0.038%, 7d avg +0.020%
=Together, before fees+0.104%+ Points / potential airdropLighter RH: Points live · farm board+$10 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive BTC-PERP | 85,417.8 | 0.0100 | pay 0.0013% / 1h | 10m 09s | $30.0M | $50.1M | 15x |
| Short | Lighter RH BTC | 85,450.1 | 0.0096 | get 0.0012% / 1h | 10m 09s | $23.9M | $149.0M | 50x |
Derive BTC-PERP
Lighter RH BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Derive. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
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How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$0.84
- Price spread: +0.038% → +0.020%
- $1.74
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$5.1
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Derive: no order-book sample; Lighter RH: live order book, 4 min ago. Net counts fees only.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Derive no order-book sample | — | — | — | — | — |
| Sell Lighter RH live order book, 4 min ago | 0.38 bp | 1.3 bp −$1 | 1.5 bp −$15 | 3.5 bp −$350 | 20.5 bp −$10.3K |
Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
BTC on 56 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0140% | 1h | 85,504 | +0.101% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,456 | +0.045% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0045% | 8h | 85,423.7 | +0.007% | $919.2M | $758.2M | 125x | as long as short |
| BloFin BTC-USDT | −0.0028% | 8h | 85,443.4 | +0.030% | $420.3M | $675.4M | 150x | as long as short |
| Aster BTCUSDT | −0.0009% | 8h | 85,442.4 | +0.029% | $514.5M | $1.10B | 200x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 85,454.2 | +0.043% | $363K | $2.3M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,450.5 | +0.038% | $503K | $18.7M | 6.7x | as long as short |
| Nado BTC-PERP | +0.0003% | 1h | 85,430.1 | +0.014% | $24.4M | $222.9M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,449.2 | +0.037% | $36.5M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0028% | 1h | 85,448.7 | +0.036% | $16.8M | $21.2M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
Perpl BTC
Nado BTC-PERP
gTrade (Gains Network) BTC/USD
dYdX BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0044% | 1h | 85,552 | +0.157% | $340K | $26.9M | 52x | as long as short |
| SoDEX BTC-USD | +0.0045% | 1h | 85,436 | +0.021% | $59.9M | $335.9M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0058% | 1h | 85,479 | +0.072% | $872.1M | $1.60B | 50x | as long as short |
| BingX BTC-USDT | +0.0063% | 8h | 85,444.3 | +0.031% | — | $1.55B | — | as long as short |
| Phemex BTCUSDT | +0.0067% | 8h | 85,437.9 | +0.023% | $148.6M | $497.9M | 150x | as long as short |
| Bitget BTCUSDT | +0.0079% | 8h | 85,439.4 | +0.025% | $2.95B | $5.12B | 150x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,424.5 | +0.008% | $2.8M | $3.6M | 20x | as long as short |
| MEXC BTC_USDT | +0.0091% | 8h | 85,436.2 | +0.021% | $5.07B | $5.68B | 500x | as long as short |
| Binance BTCUSDT | +0.0091% | 8h | 85,449.1 | +0.037% | $9.44B | $24.48B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,450.3 | +0.038% | $171.9M | $1.02B | 50x | as long as short |
| Lighter RH BTCshort | +0.0096% | 1h | 85,450.1 | +0.038% | $23.9M | $149.0M | 50x | |
| Popdex BTCUSDT | +0.0096% | 1h | 85,431 | +0.015% | $8.4M | $55.1M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,417 | −0.001% | $229K | $8.4M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,490 | +0.084% | $5.7M | $9.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,522 | +0.122% | $3.79B | $5.02B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,468.6 | +0.059% | $40.4M | $591.8M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,436.4 | +0.022% | $5.17B | $9.86B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,448.2 | +0.036% | $2.59B | $12.12B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,438 | +0.024% | $3.8M | $17.7M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,437.3 | +0.023% | $4.7M | $99.4M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,455.5 | +0.044% | $679.5M | $683.6M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,441.4 | +0.028% | $5.53B | $10.86B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,429.1 | +0.013% | $36.4M | $178.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,415.2 | −0.003% | $154.4M | $565.2M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,455.6 | +0.044% | $279.2M | $930.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,470.5 | +0.062% | $214.8M | $168.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,468.6 | +0.059% | $139.7M | $316.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,468 | +0.059% | $30.2M | $206.7M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,496.3 | +0.092% | — | $11.0M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,434 | +0.019% | $11.1M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,435.2 | +0.020% | $203K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,428.6 | +0.013% | $2.5M | $8.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,478.4 | +0.071% | $206K | $737K | 40x | as long as short |
| Derive BTC-PERPlong | +0.0100% | 1h | 85,417.8 | long leg | $30.0M | $50.1M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 85,412.8 | −0.006% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,425 | +0.008% | $2.26B | $949.8M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,406.8 | −0.013% | $45.8M | $234.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,450 | +0.038% | — | $106.4M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,477.4 | +0.070% | $117.5M | $5.26B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0104% | 1h | 85,423.8 | +0.007% | $6.6M | $147.2M | 40x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0135% | 1h | 85,460.5 | +0.050% | $187.7M | $956.8M | 100x | as long as short |
| Kalshi KXBTCPERP | +0.0166% | 8h | 85,463 | +0.053% | $11.4M | $753.0M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,469.4 | +0.060% | $8.6M | $42.9M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,447.4 | +0.035% | $13.0M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0240% | 1h | 85,481.3 | +0.074% | $700K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0254% | 1h | 85,495.3 | +0.091% | $78K | $222K | 20x | as long as short |
Injective BTC/USDC PERP
SoDEX BTC-USD
Deribit BTC-PERPETUAL
BingX BTC-USDT
Phemex BTCUSDT
Bitget BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
Kraken Futures PF_XBTUSD
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD